Hero MotoCorp shares closed 6.32 per cent lower at Rs 2,151.60 on the BSE.
new Delhi:
Hero MotoCorp shares fell over 6 per cent on Friday amid fresh concerns related to the IT department finding several irregularities following the raid on the company.
Hero MotoCorp shares closed 6.32 per cent lower at Rs 2,151.60 on the BSE.
It closed at Rs 2,150, down 6.28 per cent on the NSE.
The Income Tax Department raided Hero MotoCorp and two other groups after raiding Hero MotoCorp and two other groups for alleged illegal business expenses of over Rs 800 crore, “unaccounted” cash to buy land in Delhi and the role of some shell companies, officials said on Thursday. is detected.
The raids were launched on March 23, and the country’s largest two-wheeler maker had then said it was extending full cooperation to tax officials, who have set up their offices in Delhi and adjoining Gurugram, apart from the residence of its chairman and CEO Pawan Munjal. had visited. ,